FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Weekly Company gathered the following information for the year ended December 31:

Direct labor cost incurred for the year $180,500
Estimated manufacturing overhead costs $269,100
Estimated direct labor cost $214,900
Work in process inventory, Dec, 31 $51,000
Finished goods inventory, Dec. 31 $60,100
Cost of goods sold $141,300
Estimated direct labor hours 260,300
What would the predetermined manufacturing overhead rate for the year be using direct labor cost as the allocation base?
 

Question 46 options:

 
103% of direct labor cost
 
84% of direct labor cost
 
119% of direct labor cost
 
125% of direct labor cost
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